The Government has begun the recruitment process for a new chief executive officer of the Samoa International Finance Authority (S.I.F.A.).

An advertisement announcing the vacancy was published in the Friday edition of the Samoa Observer with the deadline for applications set at April 23, 2019. All expressions of interest letters have to be addressed to the S.I.F.A. board of directors chairman. 

“The Chief Executive Officer is the Administrative Head of the Authority and applicants must therefore have proven competence in the regulation and supervision of international entities of offshore finance centers especially in the Pacific region.

“He/she must have relevant qualifications in law and/or commerce, and at least (8) years’ experience at Senior Management level at a regulatory authority,” the advertisement read.

The appointment tenure for the C.E.O. position is three years with the successful applicant succeeding To’oto’olea’ava Dr. Fanaafi Aiono-Le Tagaloa, who took over from the late Alosamoa Erna Vaai. To’oto’olea’ava was appointed in 2016.

The Government-owned entity recorded a net profit of $21.8 million for the 2018 financial year, marking an increase from the previous financial year, stated its annual report for the Financial Year 2017-2018.

The annual report said S.I.F.A. recorded an increase of approximately 16.8 per cent in total assets, from $75.4 million in the prior year to $88.2 million for this financial year. These assets are mainly cash and term investments representing 88.4 per cent of total assets.